Logo of Abdullah Al Othaim Investment Co.
Abdullah Al Othaim Markets Co. board of directors, on March 16, approved to sell the company’s 13.65 million shares in Abdullah Al-Othaim Investment Co., representing 13.65% of its capital, through an initial public offering (IPO) on the main market.
Although the transaction value has not been determined yet, the company will invest the new liquidity in its main operations and complementary activities.
The completion of the sale is subject to approvals from the official relevant authorities, as well as finalizing, registration, and listing of Abdullah Al-Othaim Investment IPO.
The asset book value stands at SAR 234.6 million, according to the latest reviewed preliminary financial statement for Q4 2021.
Below is the company’s share of the original asset’s revenue for the last three years.
|
Period |
Revenue (SAR mln) |
|
2021 |
29.49 |
|
2020 |
13.30 |
|
2019 |
22.45 |
The company will announce any new developments in this regard in due course.
The Capital Market Authority (CMA) board issued a resolution approving Abdullah Al Othaim Investment Co.’s application to offer 30 million shares, representing 30% of its share capital, Argaam reported.
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